Chipmaker TSMC announced on Thursday that its revenue increased by 43.5% to NT$534.1 billion ($18.2 billion) in the second quarter of this year, achieving expectations set by the firm. TSMC’s net profit increased by 76.4% year-on-year and 16.9% quarter-on-quarter to NT$237 billion. Revenues from advanced chip-making accounted for half of the company’s net profit. Meanwhile, revenue from IoT and automobile sectors grew fastest with a 14% quarter-on-quarter increase. The firm also revealed its guidance for the third quarter of this year, with expectations to reach $19.8 to $20.6 billion in revenue. TSMC confirmed it would bring 3 nm chip-making tech into volume production in the second half of this year, with expectations for it to start paying back beginning in the first half of 2023, Wei Zhejia, CEO of TSMC, said on the company’s earnings call. He added that enhanced 3 nm tech will be introduced for volume production a year later, with these 3 nm chips mainly serving smartphones and high-performance computing devices. [TSMC, press release]